The statistics for October from BILD and Altus Group are out, and although there has been a slight decrease in average new home prices, they are still high: $937,689 for low-rise and $483,656 for high-rise. Of course, this poses a challenge for first-time buyers, but for those who have an existing home or condo to sell, these home prices can work in their favour.
It’s all relative, and always has been. If purchase prices are high, so are selling prices. The important thing is to get into homeownership, build equity and then make the most of it. One way to do that is by choosing to move from a low-rise home to a less expensive condo, or to move farther out from the city where prices are lower. When you own a home or condo, you have options, which is a wonderful way to approach your lifestyle and financial futures.